IGO Blinks, Raises WSA Bid Price
Sense seems to have prevailed in the end after plenty of chest puffing, with IGO Ltd relenting and upping its offer price for nickel miner Western Areas from $3.36 to $3.87 per share.
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Ball in IGO’s Court as Western Areas Halt Extended
An extension to the trading halt in Western Areas shares will give suitor IGO Ltd some time to figure out the next move, if any, in its $1.1 billion all cash takeover offer.
Read MoreDay of Reckoning for IGO on Western Areas Bid
A big test for IGO today as it learns if its $1.1 billion takeover offer for nickel rival Western Areas – which resumes trading this morning after a two-day halt – has any future whatsoever.
Read MoreWSA – Morgans rates the stock as Add
Morgans has revised its nickel forecasts upward and increases its target price to $4.45 from $3.29 accordingly and upgrades to Add from Hold.
Read MoreCorporate Chatter: DGO / GOR, WSA / IGO
Plenty of corporate activity in the local mining sector, with developments today on the proposed takeovers of DGO Gold by Gold Road Resources and Western Areas by IGO Ltd.
Read MoreIGO Standing Pat on Western Areas Bid
IGO says the surge in nickel prices and subsequent confusion after trading was stopped a week ago will not force his company to lift its offer price of $3.36 for rival miner Western Areas.
Read MoreIGO Consummates Western Areas Deal
IGO will pay $1.1 billion in cash for nickel miner Western Areas at $A3.36 per share, thereby confirming one of the worst kept secrets in the mining industry this year.
Read MoreIGO Confirms Talks, Mincor Strikes Nickel
IGO has confirmed media reports that takeover talks with nickel miner Western Areas are moving closer towards a decision, while Mincor has struck nickel at its Hartley prospect in Western Australia.
Read MoreWSA – Morgans rates the stock as Downgrade to Hold
The company announced a $100m capital raising at a minimum price of $2.15, exceeding Morgans expectation of $50m and at a weaker price. The broker lowers the rating to Hold from Add and decreases the target to $2.57 from $2.91.
Read MoreWSA – Morgans rates the stock as Add
After a brief hiatus from coverage, Morgans takes another look at Western Areas and derives a target price of $2.96, with an Add rating.
Read MoreWSA – Macquarie rates the stock as Outperform
Macquarie’s Commodities Strategy team has upgraded its short term nickel price forecasts by 7-8%, medium-term by 10-13% and long-term by 3%. WSA’s rating remains Outperform with a price target of $3.30, up from $2.80.
Read MoreOdysseus Holds The Key To Western Areas
Western Areas has downgraded guidance amid lower grades as its Forrestania mines come to the end of their lives. Hence, the future lies with Odysseus.
Read MoreWestern Areas Takes Stake In Nickel Rival Panoramic
Nickel miner, Western Areas has made an opportunistic grab for a dominant minority position in rival miner Panoramic.
Read MoreMaterial Matters: Indonesia, Australia & Zinc
A glance through the latest expert views and predictions about commodities. Indonesia; Australia; and zinc.
Read MoreWestern Areas Shares Slip Despite Contract Wins
Shares in nickel miner, Western Areas (WSA) ended down 0.35% at $2.85 yesterday despite encouraging news of two major metal contracts.
Read MoreWSA – Macquarie rates the stock as Outperform
Macquarie has upgraded its FY20 and FY21 nickel price forecasts by 34% and 9% respectively to incorporate the early reinstatement of the nickel ore ban. This leads to a 266% increase in forecast FY20 earnings for Western Areas.
Read MoreNickel Takes The Limelight, But Will It Last?
Nickel prices have surged recently but as some brokers assess, fundamentals do not appear to be supporting the rally. Hence, a retracement is considered highly likely.
Read MoreWestern Areas Bullish On Nickel Price Outlook
Shares in nickel producer, Western Areas rose 2.4% on Thursday after the company’s upbeat remarks on the nickel price.
Read MoreWestern Areas Shakes Off Soft Nickel Price
Nickel miner, Western Areas was another to join the lists of resource companies reporting better results this reporting season.
Read MoreWestern Areas Rebounds On Production Update
Western Areas shares had a rare (for 2017) rise in price yesterday after releasing an encouraging June quarter and 2016-17 production report.
Read MoreLower Nickel Forces Western Areas To Cut Spending
Leading nickel producer, Western Areas (WSA) has chopped its planned investment spending over the next two years to help offset the weak world nickel price.
Read MoreWestern Areas Nickel Lucky
Nickel miner Western Areas NL and gold producer Troy Resources NL says they have accelerated drilling at their Sandstone joint venture in Western Australia after making an interesting new nickel discovery.
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